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What is fran maximum charitable contribution deduction

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Reference no: EM132951043

Question - Fran, whose adjusted gross income (AGI) for the year is $80,000, makes the following donations in the current year:

Used clothes and household items to Goodwill Industries --- cost = $6,000, fair value = $1,500

Microsoft stock, held two years, to University of Houston --- cost = $10,000, fair value = $25,000

Required - What is Fran's maximum charitable contribution deduction for the current year?

Reference no: EM132951043

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